Property for sale

1-3 St James, 113-113A Pyle St, 24-24A St James Sq, Newport, Iow PO30

Situated in a landmark location on the busy crossroads in central Newport, this attractive freehold corner building has undergone a programme of upgrading and refurbishment in recent years.

The accommodation includes four retail units on the ground floor, all of which are let, while on the upper floors there are three residential units, again all of which are let and producing a very healthy income. The property is considered ideal for addition to an income-producing property portfolio.

Commercial
Ground Floor
24a St James
A lock-up shop unit currently trading as a food outlet and let under the terms of a commercial lease at an annual rental of £6,000.

EPC Rating
To be confirmed.

24 St James
Ground Floor
Double fronted retail unit currently trading as a jewellers and let under the terms of a commercial lease at an annual rental of £9,200.

EPC Rating
To be confirmed.

Ground Floor
113 Pyle Street
Currently in use as a barbers shop and let under the terms of a commercial lease at an annual rental of £7,670.

EPC Rating
To be confirmed.

Ground Floor
113a Pyle Street
Retail premises currently trading as a book shop and let under the terms of a commercial lease at an annual rental of £7,420.

EPC Rating
To be confirmed.

Residential
1-3 St James Chambers
The three residential flats are split across the upper two floors and accessed by one communal door on Pyle Street.

Flat 1
A two-bedroom flat let under the terms of an Assured Shorthold Tenancy Agreement at a current rental of £745 per calendar month.

Flat 2
A two-bedroom flat let under the terms of an Assured Shorthold Tenancy Agreement at a current rental of £725 per calendar month.

Flat 3
A one-bedroom flat let under the terms of an Assured Shorthold Tenancy Agreement at a current rental of £550 per calendar month.

Auctioneer's Note 1
Copies of the commercial leases and residential tenancy agreements will be available within the legal documents.

Auctioneer's Note 2
At the time of publication the Auctioneers have been unable to inspect the property internally. These details have been provided by the Joint Auctioneer/Seller and interested applicants should rely on their investigations to verify the information provided.

EPC Ratings
Flat 1 - E.
Flat 2 - To be confirmed.
Flat 3 - To be confirmed.

Council Tax Bands
Flat 1 - B.
Flat 2 - B.
Flat 3 - A.
Residential EPC: E
Commercial EPC: Tbc
Important:
All lots are sold subject to the Common Auction Conditions and Special Conditions of Sale (unless varied by the Sellers Solicitors), together with the Addendum, which will be available on the Auction Day.

Price Information
*Guides are provided as an indication of each Seller's minimum expectation. They are not necessarily figures at which a property will sell for and may change at any time prior to Auction. Unless stated otherwise, each Lot will be offered subject to a reserve (a figure below which the Auctioneer cannot sell the Lot during the Auction). We expect the reserve will be set within the guide range or no more than 10% above a single figure guide. Please check our website regularly at , or contact us on , in order to stay fully informed with the up-to-date information.

*An Administration fee and Other non-optional fees may also be payable in addition to the bid price. All lots are offered subject to the Common Auction Conditions and Special Conditions of Sale or Revised Special Conditions of Sale (as applicable) and may include the repayment of search and other fees and or costs payable by the buyer. All buyers are advised to inspect all available legal documentation prior to bidding and will be deemed to fully understand what they may be liable for if they are successful in purchasing. This should also include Stamp Duty, Land Registry fees and VAT which may become payable on completion in line with any property transaction, whether it is by auction or private treaty. If, as a buyer, you are in doubt you should seek advice from your own professional advisors. For more information on fees please go to